Bitcoin Suddenly Surges Past $35K on Prospects of ETF Approvals and Institutional Adoption

Bitcoin suddenly surged above $35K on Monday, reaching highs not seen since May 2022 before the crypto winter
The price jump is fueled by growing prospects that bitcoin ETFs will finally be approved, broadening the investor pool
Grayscale is poised to convert its bitcoin trust to an ETF after a court rebuked the SEC rejection
BlackRock has applied for a bitcoin ETF and its CEO called crypto a "flight to quality" like gold or Treasuries
Over $300M in derivatives were liquidated during the surge, while open interest declined amid profit taking